What To Do When The Market Is Dumping?

The cryptocurrency market is extremely volatile and you can get rich quick or broke within one hour. If you have been in this market for long enough, you would have been aware that panic selling is very common when there is an update no matter it is legit or fake.

Many FUDs in the crypto market are created by whales or sharks or even experienced traders. They try to make newbies and inexperienced traders panic and sell their tokens at dip. When the price is falling to dip, they will collect more. This is very common and easy to recognize when you watch trollboxes or chatboxes of exchanges such as HitBTC, IDEX, Tidex....many of big exchanges closed this feature to avoid fake news or FUDs.

Trollboxes/ chatboxes are good to discuss the information and updates about the market and any specific tokens/ coins for investment, however, most of conversations and words are shared among these boxes are "pump" "dump" or "moon" or even "scam". If you are a newbies and just start trading, what do you think when someone tells you your purchased tokens is gonna dumped in next few hours? He will provide some updates without sources saying that the team behind that token is scammer. In that case, most of newbies will panic selling to stop loss and he will collect at dips.

Research is the key to have an informed decision. Don't just listen to anyone as money is yours, so you have to make final decision. There are many sources that you can research and have better understanding of the tokens, its team, roadmap and technology. If the team has got a good project before then they are reliable.

What to do if the whole market is dumping?

If the marketing is turning red, so it can be a correction. It will recover sooner or later and it is normal. Nothing to worry about. When looking at CoinMarketCap and you see almost of tokens are dumping, my advice is not selling at dip. Selling in this case is loosing. Just keep calm and hodl as if you hodl, you will not loose because when it is back, you can sell it.

In many cases, whales and sharks are trying to collect more tokens like Bitcoin, Ethereum....and they are selling to create FUDs, and when all are selling because of FUDs, they will collect more at dips. Then, you are trapped.